New photo Google shifted $23billion to tax haven in Bermuda in 2017

Google moved a whopping $22.7billion to a tax haven in Bermuda in 2017 to avoid paying foreign taxes, a new report reveals. 

The move was made through a Dutch shell company called Google Netherlands Holdings BV, according to documents filed at the Dutch Chamber of Commerce.   

The amount filed through was $4.5billion more than the amount in 2016. 

Google employed an international tax evasion strategy known as 'Double Irish, Dutch Sandwich' that legally allowed companies channel their profits through an Irish company than through a Dutch one, then to another Irish subsidiary based in a place with no income taxes like Bermuda.

In 2017, Google moved $22.7billion to a tax haven in Bermuda to avoid paying taxes

The Dutch subsidiary moved the company's royalities earned outside the U.S. to Google Ireland Holdings, an affiliate which is based in Bermuda, where companies pay no income tax. 

The move allows Google to avoid paying U.S. income taxes and European withholding taxes on funds.  

Google Netherlands Holdings BV paid $3.8million in taxes in the Netherlands in 2017, the documents showed, on a gross profit of 15.5 million.

'We’ve paid a global effective tax rate of 26 percent over the last ten years. All foreign profits, including 2017 and prior, regardless of where they’re held, are subject to corporate tax in the United States,' Google said in a statement to Fox Business. 

Apple is another major tech company to also make the tax haven move to trim taxes. 

However by 2020, it may be impossible to do so.  

Under pressure from the European Union and the United States, Ireland in 2014 decided to phase out the arrangement, ending Google's tax advantages in 2020. 

The U.S. also lowered its corporate tax rate to 21 percent through the Tax Cuts and Jobs Act to try and prevent companies like Google from shifting profits overseas.

In June a total of 949 non-financial companies held $1.8trillion overseas.   

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News Pictures Google shifted $23billion to tax haven in Bermuda in 2017

You don’t have to pack away your bikini just because you’re the wrong side of 20. These body-beautiful stars reveal their secrets to staying in shape and prove you can smoulder in a two-piece, whatever your age. Read on and be bikini inspired!

TEENS
Hayden Panettiere
Size: 8
Age: 18
Height: 5ft 1in
Weight: 8st

To achieve her kick-ass figure, Hayden – who plays cheerleader Claire Bennet in Heroes – follows the ‘quartering’ rule. She eats only a quarter of the food on her plate, then waits 20 minutes before deciding whether she needs to eat again.

Hayden says: “I don’t have a model’s body, but I’m not one of those crazy girls who thinks that they’re fat. I’m OK with what I have.”

Nicollette says: “I don’t like diets – I see it, I eat it! I believe in eating healthily with lots of protein, vegetables and carbs to give you energy.”

kim cattrall

Size: 10-12
Age: 52
Height: 5ft 8in
Weight: 9st 4lb

SATC star Kim swears by gym sessions with Russian kettle bells (traditional cast-iron weights) and the South Beach Diet to give her the body she wants. To avoid overeating, Kim has a radical diet trick – squirting lemon juice on her leftovers – so she won’t carry on picking.

Kim says: “I am no super-thin Hollywood actress. I am built for men who like women to look like women.”
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